Tax savvy for small business
By: Frederick W. Daily
Contributors: Nolo (Firm)
Edition: 16th ed.
Publisher: Nolo; NOLO
Published: 2013
Place of publication: Berkeley, Calif
Language: eng
Number of pages: 367
ISBN-13: 9781413317602
Subjects: Taxation; Law and legislation; Tax planning; Small business
Description: Understanding the tax system is vital to the health of every small business. Virtually every decision a business makes has tax consequences that can affect its bottom line -- and the IRS is always watching. Develop the best tax plan for your small business, learn the ins and outs of the tax code, and create comprehensive strategies to get back the most from the IRS with this all-in-one guide. Tax Savvy for Small Business provides essential information that will free up your time and money for what counts -- running your business effectively. Completely updated for 2012 returns, it explains how to: choose the best business entity; deduct current and capitalized expenses; write off long-term assets; keep records that will head off trouble with the IRS; get tax breaks from business losses; deal with payroll taxes; negotiate payment plans for late taxes; handle an audit; get IRS penalties and interest reduced; maximize retirement funds; take advantage of fringe benefits; and use retirement funds as a tax break.
Notes: Includes index.

Includes bibliographical references and index.
Table of contents: title: Your tax saving companion --; title: Tax basics --; title: Deductible business expenses --; title: Writing off long-term business assets --; title: Bookkeeping and accounting --; title: Business losses and failures --; title: Tax concerns of employees --; title: Sole proprietorships: solos, freelancers, and independent contractors --; title: C corporations --; title: S corporations --; title: Partnerships --; title: Limited liability companies --; title: Qualified personal service corporations --; title: Family businesses --; title: Home-based businesses --; title: Fringe benefits --; title: Retirement plans --; title: Buying a business --; title: Selling or closing a sole proprietorship --; title: When you can't pay your taxes --; title: Audits --; title: Appealing IRS audits --; title: Penalties and interest --; title: Help beyond this book --; title: Answers to frequently asked tax questions.